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Hey FinTech Fanatic! KuCoin's operator, Peken Global Limited, will exit the U.S. market for at least two years after pleading guilty to operating an unlicensed money transmitting business. The settlement includes a $297 million penalty, and founders Chun (Michael) Gan and Ke (Eric) Tang will step down

Hey FinTech Fanatic! Bitpanda has secured a MiCAR (Markets in Crypto-Assets Regulation) license from Germany's Federal Supervisory Authority (BaFin), making it the first major crypto company to do so. The company grew from 1 million users in 2019 to 6 million by December 2024, and will now operate

Hey FinTech Fanatic! Nu Mexico has hit a major milestone—reaching 10 million customers, doubling its base in the last year. Since launching in 2019, Nu has expanded from a simple credit card to a full suite of financial products, including savings accounts, debit cards, and personal loans, serving nearly

Hey FinTech Fanatic! The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have announced next steps for open banking in the UK, which now serves 11.7 million active users and processes 22.1 million monthly payments. Open Banking Limited will establish an independent central operator to coordinate variable

Hey FinTech Fanatic! HSBC is shutting down Zing, its international payments app, just one year after launch according to Financial News. The bank had developed Zing in early 2022 with initial plans to expand into the Netherlands followed by Singapore and the United Arab Emirates. According to a person familiar

Hey FinTech Fanatic! Monzo Bank is preparing for a potential IPO, with plans to be "IPO ready" by the end of this year, but faces internal discussions about the listing location. TS Anil, Chief Executive, is reportedly favoring a US listing, while the board prefers the London market

Hey FinTech Fanatic! Barclays has announced it will wind down Rise, its global FinTech accelerator program, by mid-2025. The program, launched in 2015, has produced over 120 graduates including ApTap, WealthOS, and iWarranty through its locations in London, New York, and a virtual community in India. According to a Barclays